Thursday 12 March 2015

Daily Index Cycle update

US equities closed somewhat mixed, sp -3pts @ 2040 (intra low 2039). The two leaders - Trans/R2K, settled higher by 1.1% and 0.6% respectively. Near term outlook offers a rally to the sp'2070/80s within the next 2-3 trading days.


sp'daily5



R2K



Trans



Summary

*the gains in the two leaders were especially notable today, and it bodes for the sp'500/Dow to follow upward across Thur/Friday.
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Suffice to say... we probably have a cycle low of sp'2039.. and we're set to head higher... at least for the next 2-3 days. Yellen at next Wednesday's FOMC will be highly important in whether we'll put in a lower high... or just keep on pushing upward.
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Closing update from Riley


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a little more later..